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South Africa: Interest rates to remain higher for longer, says central bank governor

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Interest rates cuts will likely be scaled down compared to expectations six months ago, says Lesetja Kganyago, the governor of the South African Reserve Bank, who cites sticky headline inflation due to slower disinflation in food prices and the more volatile fuel prices.

File photo: Governor of the South African Reserve Bank Lesetja Kganyago speaks at a press conference ahead of Finance Minister Enoch Godongwana 2024 budget speech in Cape Town, South Africa, 21 February, 2024.

Consumers and businesses should brace themselves for interest rates in South Africa to remain higher for a longer period, the country’s central bank Governor Lesetja Kganyago warned this week.Nigeria: Access Bank’s NBK acquisition is the latest play for African prominence Acquisitions such as that of the National Bank of Kenya, regional partnerships and a capital-raising drive are fuelling Access Bank’s transition from ...Instead of trying to beat Transsion in volume in Africa, the Korean telecom giant is targeting urban, middle-class consumers who can afford to pay $20...Currency fluctuations against the dollar have caused huge losses for foreign companies, with some groups even exiting Nigeria and Kenya. Is the relati...

 

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